Finance and Banking

Is Life Insurance Haram or Halal?

Is Life Insurance Haram or Halal?

Getting life insurance is quite common in current times. Everyone wants to secure the future and life of their families after their death, and life insurance seems the best option. But what does Islam say about life insurance?  Do Islamic laws permit getting life insurance? Is life insurance haram?  Yes, life insurance is considered haram …

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Is Car Financing Halal or Haram?

Is Car Financing Halal or Haram?

In a tough economy where prices are increasingly soaring, people are always looking for alternative ways to make a decent living. To buy a house, a car, a property, or even set up a business, people who cannot opt to make purchases on direct cash have other options available in the market. Sometimes, people look …

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Mortgage, Is It Halal or Not?

Mortgage, Is It Halal or Not?

A mortgage is a loan obtained from a bank or other financial institution. The purpose of this loan is to help borrowers to purchase a home. The security of the mortgage is the home itself. If the borrower fails to make monthly payments to the lender and avoids the loan, the lender can sell the …

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